05:10 AM EST Share From breaking ground 12 years ago to $1 billion in revenue today, founder Patrick Zalupski says ‘being a public company was the best option’ for growth.
Dream Finders Homes Inc.’s stock doubled in price after the Jacksonville-based homebuilder launched its initial public offering in late January.
That’s good news for Dream Finders founder and CEO Patrick Zalupski, who retains a controlling voting interest in the company after the IPO.
Patrick Zalupski
But Zalupski wasn’t celebrating the price spike.
“Of course, up is always better than down but believe it or not, we don’t spend a lot of time watching the share price,” Zalupski said March 8 by email.
Dream Finders Homes Inc.’s initial public offering was a smash hit on Wall Street, with the stock more than doubling in price when it began trading a month ago.
But as analysts weighed in last week with their first reports on the Jacksonville-based homebuilder, the stock cooled.
Three analysts rated it at the equivalent of a “hold” and another rated it as “underperform.”
Dream Finders sold 11.04 million shares of Class A common stock at $13 each and the stock jumped higher immediately when it began trading Jan. 21. It eventually reached a high of $31.98 two weeks ago.
The analysts have a high opinion of the company but think its market price has been too high since the IPO.
According to Canaccord Genuity, the prior rating for
BlackBerry Ltd (NYSE:BB) was changed from Hold to Sell. In the third quarter, BlackBerry showed an EPS of $0.02, compared to $0.03 from the year-ago quarter. The stock has a 52-week-high of $28.77 and a 52-week-low of $2.70. At the end of the last trading period, BlackBerry closed at $13.00.
For
Noble Midstream Partners LP (NASDAQ:NBLX), Piper Sandler downgraded the previous rating of Overweight to Neutral. In the fourth quarter, Noble Midstream Partners showed an EPS of $0.44, compared to $0.65 from the year-ago quarter. At the moment, the stock has a 52-week-high of $22.41 and a 52-week-low of $1.81. Noble Midstream Partners closed at $13.53 at the end of the last trading period.
Dream Finders Homes Acquires Century Homes Florida, LLC Dream Finders Homes, Inc. Jacksonville, Florida, UNITED STATES
ORLANDO, Fla., Feb. 01, 2021 (GLOBE NEWSWIRE) Dream Finders Holdings LLC, a subsidiary of Dream Finders Homes, Inc. (NASDAQ: DFH), has closed, effective as of January 31, 2021, the acquisition of Orlando-based homebuilder Century Homes Florida, LLC from Tavistock Development Company. Recognized for superior craftmanship, ingenuity, and quality, Century Homes Florida currently operates in a variety of communities throughout Central Florida and has built more than 1,000 homes in the area.
The entire Century Homes Florida portfolio, including active Craft and Century Homes projects in Lake Nona’s Laureate Park, Oakley Place, Reserve at Pine Tree, Stonewood Estates Townhomes, and Wiregrass, along with their teams are part of the acquisition.
Jacksonville-based Dream Finders Homes Inc. completed its IPO on Jan. 25, selling 11.04 million shares of Class A common stock at $13 each.
The final total included 1.44 million shares purchased by its underwriters.
Dream Finders received net proceeds after expenses of $133.5 million from its IPO, according to a Securities and Exchange Commission filing.
Dream Finders stock jumped higher on its first day of trading Jan. 21 and has traded as high as $26 since the IPO.
CSX drops after earnings report
CSX Corp. reported year-end earnings in line with expectations and its officials expressed optimism about better days in 2021.
But the Jacksonville-based railroad company s stock dropped to its lowest levels in more than two months Jan. 22 after the earnings report.